In recent weeks, Enterprise Ireland’s New York Office collaborated with BNY Melon to create an insightful event focused on the online payments space. The invite only ‘Digital Payments Revolution’ event took place at BNY Melon HQ New York, with the aim of demonstrating how FinTech Companies are changing todays payments landscape and featured a select group of innovative Irish companies that are leading the way.
Brian Ruane, EVP & CEO of Broker Dealer Services BNY Melon hosted the event which was attended by over 200 banking professionals, payment experts, technologists and investors. Karen Preetz, President of BNY Melon, opened proceedings and spoke of BNY Mellon’s commitment to engaging in technological innovation and introduced the participating companies to the audience. In addition a keynote address by Andy Schmidt, Principal Executive Advisor of CEB TowerGroup focused on the changing payments environment and the role of new technologies in the finance and payments world.
A panel discussion followed these speaker insights and centered on the technical challenges that face today’s payments industry and the difficulties encountered trying to meet the ever more demanding needs of customers. The panel featured industry experts from companies such as Mastercard, the Clearing House, BNY Mellon, Ripple Labs and Td Bank.
The event also featured presentations from a number of Irish companies who are currently part of this digital payments revolution. Participating in this event was Fexco, Sysnet Global Solutions, Trustev, Continuum Commerce, Acquirer Systems and Daon.
Rory Griffith, Senior Vice President of Financial Software & Services at Enterprise Ireland, commented that; “collaborating with BNY Mellon to produce such an important and relevant event was a win-win for all stakeholders. The turnout, calibre of attendee, level of interest and follow up from this event has been immense and served to bring thought leaders, buyers and solutions vendors together. BNY Melon recognize both the challenge and the opportunity for banks in corporate payments and across all channels. By adopting a new technology focused strategy Banks are now making venture capital investment, partnering and harnessing the latest innovative payments technologies in order to be more secure, user friendly, multi-channel enabled, competitive, mobile enabled, and flexible for today’s market”.
The 6 companies that presented at this event demonstrated exceptional capabilities and represent a wider payments technology cluster which has benefited greatly from a vibrant Fintech ecosystem of funding, innovation, research & development, commercialization and internationalization that exists in Ireland and covers multiple domains within financial services. Expertise developed from handling multi-currency FX transactions, channels and transfers as both a major gateway to European and other global jurisdictions for US corporates and as a truly globalized economy has contributed much to this payments centre of excellence and constant innovation.
Outside of payments, Enterprise Ireland is having great success in driving other Fintech vendors to seize on multiple opportunities and solve the biggest market problems by replacing legacy systems in favour of smart, agile, compliant, revenue generating, secure solutions that the global market place demands and needs.